Eagle Point Credit (NYSE:ECC) Sees Unusually-High Trading Volume – Here’s What Happened

Eagle Point Credit Company Inc. (NYSE:ECC) shares saw an uptick in trading volume on Friday . 835,553 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 733,829 shares.The stock last traded at $9.18 and had previously closed at $9.06.

Eagle Point Credit Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market capitalization of $703.30 million, a PE ratio of 11.43 and a beta of 0.75. The firm’s 50-day simple moving average is $9.18 and its 200 day simple moving average is $9.65.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, January 13th. Eagle Point Credit’s dividend payout ratio is currently 210.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its stake in shares of Eagle Point Credit by 5.3% during the third quarter. Ballentine Partners LLC now owns 23,158 shares of the investment management company’s stock valued at $228,000 after acquiring an additional 1,173 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Eagle Point Credit by 2.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company’s stock worth $763,000 after purchasing an additional 2,112 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of Eagle Point Credit in the third quarter worth $28,000. Sage Capital Advisors llc raised its stake in shares of Eagle Point Credit by 6.5% in the 3rd quarter. Sage Capital Advisors llc now owns 48,923 shares of the investment management company’s stock valued at $482,000 after acquiring an additional 2,986 shares during the period. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Eagle Point Credit by 32.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 14,273 shares of the investment management company’s stock valued at $141,000 after acquiring an additional 3,491 shares in the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

About Eagle Point Credit

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.